Whether you own an apartment building, a vacation home, or an office space, this tax guide will help you with many of the issues and questions you may run up against as a landlord.
The tax laws pertaining to landlords run the gamut from the simple and easy to decipher, to the complicated, which often require special attention to be able to navigate. The Rental Property Tax Guide is a one stop resource for landlords to educate themselves for the purpose of turning their investment into a profitable one that will yield dividends for years to come.
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List of Topics
- Tax forms for reporting rental activity (Form 1040, Schedule E, Form 8825)
- Best rental property ownership (LLC, Corporation, individual, limited partnership, general partnership or other)
- What income to report from your rental property (capital gains when you sell your property)
- Taxable vacation home rental income (tax-free vacation home, Personal and rental use calculation)
- How to deduct startup expenses from rental property
- Tax deductible rental property expenses 1 (interest, advertising, professional fees)
- Tax deductible rental property expenses 2 (insurance, cleaning & maintenance, repair)
- Tax deductible rental property expenses 3 (supplies, taxes, utilities)
- Tax deductible rental property expenses 4 (landscaping, hired help, HOA fees)
- Home office for rental property
- Deductible car and local transportation expenses from rental property
- Depreciation expenses for rental property (Building vs. Land, fixed assets, improvements)
- Tax deductible rental loss (Passive loss rule, $25000 dollar offset, real-estate professional exemption, suspended passive losses deduction)
- Non-deductible rental property expenses
- Tax credits for landlords (Rehabilitation tax credit, low-income housing credit)
- Using LLCs for Real Estate Investments
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